... as online rivals deal final blow to Maplin

THE electronics store Maplin also lost its battle against the rise of online shopping yesterday when it collapsed just an hour after Toys R Us.

All 217 shops are likely to close, threatening the future of 2,335 employees.

Maplin, which was founded in 1976, blamed its fate on the falling value of the pound and tighter household budgets.

It also failed to match the low prices of online rivals such as Amazon, which sells a huge range of discounted electrical products. The firm said stores will continue to trade normally, with gift cards being accepted as payment, for the time being.

Maplin went into administration after 11th-hour talks with a potential buyer fell through. Chief executive Graham Harris said: ‘It has not been possible to secure a solvent sale of the business, and as a result we now have no alternative but to enter into an administration process. During this process Maplin will continue to trade and remains open for business.’

The news comes as the pizza chain Prezzo announced it was closing at least 100 of its 300 restaurants with the loss of several hundred jobs out of a workforce of 4,500.

Owner TPG Capital, a private equity firm, is also expected to axe its Tex-Mex chain Chimichanga with the loss of 33 venues.